Despite a 71 per cent fall in revenues for Macau Legend Development, leading to a loss of US$252m, investment from new Co-Chairman and Executive Director Levo Chan would see it add ‘more non-gaming tourism activities and facilities’ to its existing casinos.
Casinos at the company’s Macau Fisherman’s Wharf (MFW) development; Legend Palace Casino, and Babylon Casino contributed gaming revenue of approximately HK$201m and HK$88m each whilst the Landmark casino delivered HK$196m.
Co-chairman, executive Director and chief executive officer of Macau Legend, Mr Chan Weng Lin, said: “Given the outbreak of COVID-19 pandemic, the epidemic has hit Macau economy hard in 2020. Thankfully, continuing strong support has been seen from local customer base. MFW’s gaming business performed slightly better than the overall market.
The Group’s reported gaming revenue in Macau contracted approximately 71 per cent compared to last year, while the overall gross gaming revenue in Macau contracted approximately 79.3 per cent.”
“Despite the adverse influence under COVID-19 pandemic, the Group has been improving the existing operations in 2020. In Macau, the Group has focused on upgrading dining and entertainment offerings at MFW. Renovations for facilities upgrade in the Convention and Exhibition Center have been completed and commenced service. A newly launched gourmet restaurant — Soda Port has had its soft opening recently. It puts Macanese cuisine among the finest of culinary world. The Grand Palace Chinese restaurant has also introduced an innovative Chinese Omakase cuisine aiming to bring a unique dining experience to customers.”
“With the momentums generated by new investors and management, the Group will exercise proactive spirit of local enterprises in Macau in the future. Adhering to health and epidemic prevention measures, the Group shall actively introduce more non-gaming tourism activities and facilities on the premises, which include reiterating the Legend Boulevard into a leisure avenue locating world-wide dining and comprehensive entertainment facilities. The improvement shall match Macau’s reputation as “Creative City of Gastronomy”, optimise leisure experiences of the public and improve quality of Macau’s tourism industry.”, he said.
Co-chairman and non-executive Director of Macau Legend, Mr David Chow, said, “Thakhek Club in Thakhek, Lao PDR has commenced its slot operation in July 2020, with 130 electronic gaming machines. The Group expects that Thakhek Club will provide new momentum to the Group’s revenue in Lao PDR during 2021. The hotel and casino at Savan Legend Resorts, Savannakhet will resume gradually when the Thai/Laos border is reopened.”
“Looking ahead to 2021, with increasing popularity of vaccines and gradual relaxation of travel restrictions by local governments in recent months, the Group expects that the number of visitors coming to Macau will be increasing steadily this year. The Group shall remain optimistic and well-equipped to seize opportunities for recovery when the tourism industry rebounds.”